Horizon 2020
Cork Ireland, 03 July 2015: We are pleased to confirm that our portfolio company, Radisens Diagnostics, has secured €4.5 million through Horizon 2020. This follows our recent announcement that MPSTOR also a Bank of Ireland Kernel Capital Venture Funds portfolio company, in collaboration with IBM and Eurocom, successfully secured €3.2m, through the Horizon 2020 programme. Our dedicated initiative to ensure our portfolio companies maximize this superb source of funding has now seen nine of our portfolio companies benefit from over €40m of Horizon 2020 and other EU funding programs.

Radisens Diagnostic's will use their €4.5m to develop products that, from a single pinprick of blood, will instantly deliver laboratory-grade diagnostic results for diabetes, cardiovascular and kidney analysis. With current lab tests taking several days to produce results, Radisens' disruptive technology removes the requirement for blood samples to be analysed at central labs, thereby eliminating delay in patient diagnosis.

"Radisens is a superb example of how our portfolio companies are leveraging the EU Horizon 2020 programme. At Kernel Capital we recognise that Horizon 2020 is an incredible source of funding and actively promote and support our companies in applying for same. The funds are provided by way of a non-repayable grant. As well this being a non-diluting cash injection into our innovative companies, it is another validation reference point and enables our companies build strategic commercial relationships with some of the world's leading players."
Dawn Walsh, Marketing Manager, Kernel Capital

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For further information please contact:
Dawn Walsh, Kernel Capital.
Tel: +353 21 4928974

Notes to Editors:
About Radisens Diagnostics
Radisens, a private venture-backed diagnostics company, is breaking new ground in the decentralization of routine blood testing from central reference laboratories into physician offices, outpatient clinics, pharmacies and other near-patient test settings. With a finger-prick of blood, this multi-mode diagnostic device will return laboratory-grade results instantly within a patient's physician visit.

Radisens' initial menu concentrates on panels for those suffering with high-burden chronic disease resulting in improved patient outcomes and more efficient healthcare management. By integrating immunoassay, clinical chemistry, cell counting and other test modes, this near-patient device will finally open blood testing access to all with instant diagnosis and monitoring. The fear or needles, the many anxious days or weeks of waiting for results, the multiple physician visits, will all be things of the past.

About the EC's Horizon 2020 & SME Instrument
Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly €80bn of funding available over 7 years (2014 to 2020). Horizon 2020 funds high-potential innovation through a dedicated SME instrument. Provided with about €3bn in funding over the period, the SME Instrument helps high-potential SMEs to develop groundbreaking innovative ideas for products, services or processes that are ready to face global market competition. Available to SMEs only, the new scheme has opened a new highway to innovation through phased, progressive and complimentary support.

The dedicated SME instrument's supports close-to-market activities, with the aim to give a strong boost to breakthrough innovation. Highly innovative SMEs with a clear commercial ambition and a potential for high growth and internationalisation are the prime target. More details are available at the Horizon2020 SME Instrument website.

About Kernel Capital
Kernel Capital and its associate life science investment firm Seroba Kernel have in excess of €235m (£190m) under management in venture capital funds, investing in ICT, Life Science and general seed and early stage investments. These funds are supported by Bank of Ireland, Enterprise Ireland, Invest NI, University of Limerick Foundation, NUI Galway Foundation and a range of other financial institutions including public and private pension funds and a family office. They have invested in Kernel Capital's portfolio of 80+ companies which collectively employ almost 1,200 people and have been granted over 150 scientific patents. Kernel Capital and 40% owned associate firm Seroba Kernel are committed to dynamic, innovative, knowledge based companies and recognise that it is an exceptional time for investment.

The Bank of Ireland Kernel Capital Venture Funds with a portfolio of 80 companies employing almost 1,200 people invest in the range of €500k to €5m per company and complete on average 25 deals per annum on the island of Ireland. These funds are supported by Bank of Ireland, Enterprise Ireland, Invest NI, University of Limerick Foundation, NUI Galway Foundation and a range of other financial institutions including public and private pension funds and a family office.

Most recently we launched the All Ireland Bank of Ireland Kernel Capital Growth Funds, with investment teams based in Belfast, Cork, Belfast and Dublin and dedicated to investment in both jurisdictions on the Island of Ireland.

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